Bitcoin Diamond (BCD) is a fork of Bitcoin that occurs at the predetermined height of block 495866 and therewith a new chain will be generated as the BCD. Bitcoin Diamond miners will begin creating blocks with a new proof-of-work algorithm, and will consecutively develop and improve the transaction speed based on original features of BTC. This will cause a bifurcation of the Bitcoin blockchain. The original Bitcoin blockchain will continue on unaltered, but a new branch of the blockchain will split off from the original chain. It shares the same transaction history with Bitcoin until it starts branching and coming into a unique block from which it diverges. As a result of this process, a new cryptocurrency was created which we call ‘Bitcoin Diamond’.
The total amount of BCD is 210 million. There is no more increase.170 million BCD, 1BTC : 10BCD will be presented to the Bitcoin holders for the long-term Bitcoin ECOSYSTEM support. The rest 40 million will be automatically transferred into the community rewards pool as tributes and mining.
After nine years of rapid development of Bitcoin, high transactions fees and Bitcoin no longer meets the demands from rising numbers of clients. And various kinds of problems have arisen, which mainly consist of the following aspects: 1. Slow transaction confirmations. 2. High threshold for new members.
No, Bitcoin Diamond is fork of the Bitcoin blockchain with upgraded technology while preserving the original features of Bitcoin. Adding on new techniques – Lightning network to faster transaction speed, more efficiently applied in the field of daily payments. Besides, it raises the storage size and the block-out speed of each block to an optimum value, to follow segwit and increase the usage of block unit storage trading of the Bitcoin Diamond and minimize the production of isolated blocks.
The so-called replay attack refers to the fact that if a transaction is valid in BTC, then the bifurcation of BTC will also take effect, because most of their algorithms are the same. Means that if someone on the BTC launches a deal in the chain and sends the signed deal to another block chain, he will get free BTC that shares the same ratio in that block chain. In order to prevent a replay attack, a slight change has been made on trading format between BTC and BCD, to prevent the replay trading, BCD will not accept BTC deal which truly makes it independent from the BTC.
The Lightning Network is the second layer payment protocol that works on the blockchain. It is designed to realize real-time transactions between the two parties. The main idea of the Lightning Network is to place a large number of transactions outside the blockchain. The Lightning Network refines the off-chain transaction channels through smart contracts. Throughout the transaction, smart contracts play an important role as the intermediary, and the blockchain ensures that the final transaction results are confirmed.
1.Anyone who held Bitcoin at the time Bitcoin Diamond was created, on 11/24/2017 at Block Height 495866, became owners of Bitcoin Diamond which is 1BTC : 10BCD. 2.Mining. 3.Exchange at any other secondary markets. 4.Contributors in the ecological construction of BCD will receive a certain BCD as a reward.
Any secured Bitcoin wallets can store your BCD before they reach the predetermined height as of block 495866. If your Bitcoin is stored by a third party, such as an exchange, then you must inquire with them about your Bitcoin Diamond. Verified wallets that support BTC and BCD side-by-side will be listed on the Bitcoin Diamond home page. We will publish guides for retrieving BCD from the most popular wallets.
No. If you have BTC in a paper wallet, hardware wallet, multi-signature address, or any other forms of secure private key storage, you will be able to claim your corresponding BCD at any time. BCD will be distributed when you move. You can search and find your BCD from your wallet.
Once the Bitcoin blockchain reaches a predetermined height of 495866 Bitcoin holders can get BCD free. After that time, you need to acquire BCD at any exchanges like other crypto-currencies, mining it as Bitcoin, or trading your goods and services for benefits.
Cryptocurrency exchanges are custodial businesses, which means they control your private keys. When the Bitcoin Diamond fork occurs at predetermined height 495866, any exchange that is holding BTC on your behalf will also receive the corresponding BCD. While they should credit your account with the equal amount of BCD, there is no legal authority that can force them to do so. The Bitcoin Diamond home page will display the names and logos of exchanges that have promised to credit their users with BCD at 1:10. If your exchange is not shown, please consider transferring your BTC to a supporting exchange or withdraw to a personal wallet where you control the private keys.
You can sell BCD at any of the exchanges listed on our home page. Or you can trade with a trusted broker.
As the developers of the project, we will not predict price or provide any investment advice. We create BCD as a free dividend for BTC holders. Anyone who holds Bitcoin at the time when Bitcoin Diamond was created became owners of Bitcoin Diamond. You can receive the full benefits of this project without any additional risk simply by holding Bitcoin, the best form of money the world has ever seen.
You can mine BCD using the full node client or you can mine with a pool. Some public mining pools that have worked with us are listed on our home page. We invite you to join our Facebook, Twitter, Slack, Telegram or Reddit for technical help and advice about mining BCD.
BIP44 is a rule which can make HD wallet very powerful, and the Bitcoin Diamond token follows this rule. With this rule, clients only need to save a master private key, which can generate multiple sub-private keys and sub-addresses. Clients can easily manage all the balances of the addresses under this master private key, that can also help reducing the possibility of the master private key exposure, which ensures the safety of funds.
Block information are divided into trading information and witness information. Trading information means someone transfer amount at a specific time. Witness information means at a specific node and time to verify the reliability of trading information. Bitcoin put two information into the same block directly, so BTC cannot bear more trading information.By using segwit, block only records trading information and each block will record more trading. Bitcoin Diamond will increase the unit block to bear more trading, in order to optimize the storage of BCD network.
|Comparison Chart||bitcoin diamond ( bcd )||bitcoin ( btc )||bitcoin cash ( bch )|
|max supply||210 mil||21 mil||21 mil|
|distribution||MINING, claiming||mining||MINING, claiming|
|mining algorithm||OPTIMIZED X13(GPU)||SHA256(ASIC)||SHA256(ASIC)|
|blocktime||10 MINUTES||10 MINUTES||10 MINUTES|
|maxblocksize (segwit)||8mb(16-32mb)||1 MB (2-4MB)||8mb|
|blockchain size||~135 GB||~145 GB||~135 GB|
|difficulty adjustment||2 WEEKS||2 WEEKS||2 WEEKS + EDA|
|maxtx/day||~4.8 MIL||~1.2 MIL||~4.8 MIL|
|replay protection||yes||NOT NECESSARY||yes|
|established since||Nov2017||2009||Aug 2017|
Forked at Block Height 495866
Bitcoin Diamond is created as a hard fork of the Bitcoin (BTC) blockchain. Teams EVEY and 007 partnered to develop the necessary upgrades to improve upon Bitcoin’s original framework.
Mainnet is stabilized following testnet. Bitcoin Diamond becomes ready for full-scale launch.
Lightning Network & BCD Wallet
Bitcoin Diamond will adopt the Lightning Network, a second-layer payment protocol which will result in substantially faster and less expensive transactions. This is expected to be deployed on July 31, 2018 after complete assessment by developers and testers.
BCD Application Ecology
All components of the BCD Application Ecology will be released to make the coin even more accessible and usable for the masses. This will include an intuitive mobile app, education initiatives, and the BCD International Marketplace, allowing people anywhere in the world to shop from the world’s most popular online marketplaces.
The Bitcoin Diamond Foundation and development team will continue to make improvements to our technology to ensure an ideal user experience.